Money Manager Articles

Posts Tagged ‘legs’

(Lee Siler) - Stocks took a big hit yesterday on a stronger dollar and Citigroup news. The demand for the Citigroup secondary offering was much less than the company thought. Citi was trying to get around $3.35 a share for the $20+ billion offering. The company ended up pricing the offering at $3.15. At this price the Treasury department decided not to sell our tax payers shares at this time. The Treasury said they would hold off for 90 days and after that would sell within the next 12 months.

(Lee Siler) - The market had one of the best days of the year on brisk trading. Earnings news is adding fuel to this market and this morning JP Morgan Chase is the accelerant. The company announced that strength in their core consumer business and investment banking offset a jump in credit losses. Earnings were 28 cents a share versus estimates of only 4 cents. However, revenues fell slightly short of expectations. JPM is traded up almost 4.5% yesterday.